WASHINGTON (Reuters) – Mandatory U.S. budget cuts known as sequestration are resulting in job losses across the country and threaten to undermine U.S. competitiveness in the global economy, industry executives and academics said on Monday, urging Congress to reverse the cuts.
Wes Bush, chief executive of Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz), one of the biggest U.S. weapons makers, said his company had already reduced its workforce by 19 percent in recent years, and more cuts were likely unless U.S. lawmakers ended the across-the-board cuts required under sequestration.
WASHINGTON, Dec 2 (Reuters) – The Pentagon has recertified
an internal cost-tracking system used by Lockheed Martin Corp’s
aeronautics division, freeing up progress payments that
were docked starting in 2010 after problems arose with the
system, Lockheed said on Monday.
According to a company statement, the Pentagon’s Defense
Contract Management Agency (DCMA) said it decided to recertify
Lockheed’s earned value management system (EVMS) after marked
improvements in the company’s approach to fixing the system.
WASHINGTON (Reuters) – South Korea’s plan to buy 40 Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) F-35 fighter jets will save the U.S. military about $2 billion by driving down the per-plane price of the new plane, and could create up to 10,000 U.S. jobs, according to sources familiar with the program.
Seoul’s decision will also help to offset any move by the U.S. Air Force and Navy to deal with mandatory budget cuts by postponing orders for up to 54 jets over the next five years, according to analysts. Seoul’s decision must still be approved by a committee chaired by its defense minister.
WASHINGTON, Nov 26 (Reuters) – Command Technology Inc, a
privately held firm that developed electronic maintenance
manuals for Lockheed Martin Corp’s F-16 fighter jet, has
won a $24.8 million judgment against the Pentagon’s biggest
supplier for unfair competition.
Groton, Connecticut-based Command makes similar software for
many other U.S. weapons systems, but sued Lockheed after being
shut out of the work on the 4,500 F-16 fighter jets that have
been sold to the U.S. military and two dozen other countries.
WASHINGTON (Reuters) – Command Technology Inc, a privately held firm that developed electronic maintenance manuals for Lockheed Martin Corp’s F-16 fighter jet, has won a $24.8 million judgment against the Pentagon’s biggest supplier after a jury found Lockheed guilty of unfairly competing with the smaller firm.
Command Technology, which is based in Groton, Connecticut, makes similar software for many other U.S. weapons systems, but sued Lockheed after being shut out of the work on the 4,500 F-16 fighter jets that have been sold to the U.S. military and two dozen other countries around the world.
DUBAI, Nov 25 (Reuters) – The U.S. military has transferred
the first of four U.S.-built fast patrol boats to Egypt, but
said the move did not signal a change in Washington’s decision
to withhold most military aid due to concerns about democracy
and human rights.
“This is not a shift in our posture with regard to foreign
military assistance,” said Pentagon spokesman Navy Commander
Bill Speaks, adding that Washington continued to review the
overall level of aid to Egypt.
WASHINGTON (Reuters) – The U.S. Defense Department has approved a deal under which Britain’s BAE Systems Plc would upgrade 134 older F-16 fighter jets for South Korea, the Defense Security Cooperation Agency (DSCA) notified Congress on Monday.
U.S. lawmakers have 30 days to block the sale, but such action is rare.
The work would be done by a U.S. unit of BAE Systems, which is one of the Pentagon’s largest defense contractors. DSCA is the arm of the Pentagon that oversees foreign military sales.
DUBAI (Reuters) – Privately-held drone maker General Atomics Aeronautical Systems Inc may have to lay off about one quarter of its production staff if it does not receive further U.S. or foreign orders, a senior company executive said this week.
Frank Pace, president of the company’s aircraft systems group, said the Pentagon’s current plan to halve its purchases of Predator B drones to around 24 a year, coupled with continued restrictions on foreign sales, were putting pressure on the San Diego-based company, a unit of General Atomics.
DUBAI, Nov 22 (Reuters) – Lockheed Martin Corp on
Friday welcomed South Korea’s plans to buy 40 F-35 fighter jets
and said it still aimed to build a military communications
satellite for Seoul and provide other technology transfers,
despite a cut in the number of jets to be ordered.
“We remain committed to our offset projects and I am
confident we can put together an agreement with the Korean
authorities that preserves the existing projects,” said Randy
Howard, who headed Lockheed’s South Korea F-35 campaign.
DUBAI (Reuters) – Gulf buyers are nearing decisions to buy more current generation fighter jets, but the buzz at the Dubai Airshow was about Lockheed Martin Corp’s (LMT.N: Quote, Profile, Research, Stock Buzz) radar-evading F-35 fighter – a plane not yet operational and not even on display there.
The U.S. government sent a big delegation to this year’s show, eager to reassure Gulf leaders about their continued commitment to the region despite policy differences over Syria and Iran and signs that Egypt is looking at buying Russian weapons after a slowdown in U.S. military aid.